Sandvik AB, Stockholm, Sweden, has announced layoffs in Sweden for 429 positions within its Sandvik Materials Technology business, as part of saving measures initiated due to the challenging market situation following the COVID-19-pandemic.
According to the Sandvik, the layoffs, which include 349 positions in Sandviken and eighty in Hallstahammar and Surahammar, affect both office and factory-based employees. The layoffs are expected to come into effect mid-October 2020 in Hallstahammar and Surahammar and mid-December 2020 in Sandviken.
Sandvik Materials Technology employs approximately 3,300 in Sweden, about 2,900 in Sandviken and 380 in Hallstahammar and Surahammar.
“The reason behind the decision is based on the continued uncertainties in our global market environment caused by the COVID-19-pandemic, which forces us to adjust to lower volumes and to better position our company for the future,” stated Göran Björkman, President for Sandvik Materials Technology. “We are expecting to see a weak market situation going forward and need to act in time to protect our business.”